Is it Hulk Hogan's familiar cup of the ear, or a test of a hearing aid? Photo by Ricky Havlik, RickyHavlik.com

TNA turned back the clock today in New York City, announcing at a press conference at Madison Square Garden, that the 56-year-old Hulk Hogan has signed with the company.

Trumpeting itself as "the fastest rising wrestling organization in the world" and Impact as "one of cable televisionís highest rated shows for young men," Total Non-Stop Action Wrestling sent out a press release about the signing.

"Hulk Hogan is one of the worldís top pop culture icons and the biggest superstar in the history of professional wrestling. We are truly excited to welcome him into the TNA family," said Dixie Carter, President of TNA Wrestling. "Our goal is to become the worldís biggest professional wrestling company. Hulk defines professional wrestling and we look forward to partnering with him in a variety of ways as we continue to grow TNA globally."

Never one to miss a chance to push a product, the announcement coincided with the launch of Hogan's new book, My Life Outside The Ring, co-written with Mark Dagostino and published by St. Martinís Press.

"Iím thrilled to be jumping back into the world of professional wrestling," said Hogan in the press release. "My fans have been asking me to return to the business for many years on a full time basis, but the timing or the opportunity has never been right until now. TNA Wrestling is a great company with an already excellent fan base, business and broadcast partner. I firmly believe now is the time for some change at TNA as they are positioned to jump to the next level in their development and Iím here to work with Dixie to help make that a reality."

According to TNA, the deal was brokered by Bischoff Hervey Entertainment Television, and negotiated by longtime Hogan colleague Eric Bischoff.

It is expected that Bischoff will be working with TNA as an adviser of sorts through his Bischoff-Hervey Entertainment production company. It is believed he will be behind the scenes only and working with TNA on the development of their company and television shows. It is possible Bischoff will work in producing additional television for TNA including a possible second wrestling show centering on the Knockouts or putting Jeremy Borash's web show "Spin Cycle" on a television.

"Hulk Hogan adds yet another level of star power that positions TNA Impact as Spike TVís version of 'Must-See TV' on Thursday nights," said Kevin Kay, president of Spike.